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Indirect Rational Expectations and Estimation in a Single Equation Macro Model

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  • Hoque, Asraul

Abstract

This paper makes an attempt to introduce rational expectations ideas in a single equation through a random coefficient technique. In fact, the ideas behind adaptive expectations and rational expectations have been combined here and viewed as complementary rather than . substitute to each other. We also make an attempt to provide an answer to Lucas's valid criticism of econometric policy evaluation in the presence of rational expectations.

Suggested Citation

  • Hoque, Asraul, "undated". "Indirect Rational Expectations and Estimation in a Single Equation Macro Model," Department of Econometrics and Business Statistics Working Papers 266883, Monash University, Department of Econometrics and Business Statistics.
    • Handle: RePEc:ags:monebs:266883
    DOI: 10.22004/ag.econ.266883
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